Ethereum

Trying to solve more problems than I cause @a16zcrypto

https://linktr.ee/milesjennings

DUNA AMA

@cowriellc and @milesjennings are talking about Wyoming's new legal entity for DAOs!

What are the implications for a DUNA'd protocol that accrues more revenue (eg via protocol fee) than it can "reasonably" compensate its contributors with? Is the balance considered profit? Does that violate the DUNA regs?

building /hatsprotocol | 
proudly mid-curving it since 1995

Is this an accumulated earnings question?  Feels like you are asking about AET.

Happy to get on a quick call and talk through it.

To be clear, paying ppl for “governance” isn’t comp for US tax, it’s a dividend. DUNA is subj to corp tax on its net income, incl amounts it dividends out. And it has to withhold 30% on dividends to foreigners (and do info reporting), so it has to KYC.

To be clear, paying ppl for “governance” isn’t comp for US tax, it’s a dividend. DUNA is subj to corp tax on its net income, incl amounts it dividends out. And it has to withhold 30% on dividends to foreigners (and do info reporting), so it has to KYC. https://paragraph.xyz/@cryptotaxguy.eth/on-dunas-and-borgs